14,092 Shares in Orchid Island Capital, Inc. (NYSE:ORC) Bought by Bridgefront Capital LLC

Bridgefront Capital LLC purchased a new stake in Orchid Island Capital, Inc. (NYSE:ORC) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 14,092 shares of the real estate investment trust’s stock, valued at approximately $110,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Invesco Ltd. raised its holdings in Orchid Island Capital by 3,379.3% in the fourth quarter. Invesco Ltd. now owns 2,354,065 shares of the real estate investment trust’s stock valued at $18,315,000 after acquiring an additional 2,286,405 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Orchid Island Capital by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 4,238,780 shares of the real estate investment trust’s stock valued at $32,978,000 after purchasing an additional 456,209 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Orchid Island Capital by 79.0% during the 4th quarter. Ameriprise Financial Inc. now owns 896,192 shares of the real estate investment trust’s stock worth $6,972,000 after purchasing an additional 395,650 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Orchid Island Capital by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 1,827,479 shares of the real estate investment trust’s stock worth $14,221,000 after purchasing an additional 177,357 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Orchid Island Capital by 16.8% in the fourth quarter. Northern Trust Corp now owns 682,491 shares of the real estate investment trust’s stock valued at $5,310,000 after buying an additional 98,030 shares during the last quarter. Hedge funds and other institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Price Performance

NYSE ORC opened at $7.16 on Friday. The company has a fifty day moving average of $7.31 and a two-hundred day moving average of $7.78. Orchid Island Capital, Inc. has a 1 year low of $5.69 and a 1 year high of $9.01. The company has a market capitalization of $763.78 million, a PE ratio of 11.93 and a beta of 1.54.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $19.71 million during the quarter, compared to analysts’ expectations of $11.96 million. On average, research analysts expect that Orchid Island Capital, Inc. will post 0.37 earnings per share for the current year.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 20.11%. The ex-dividend date of this dividend is Friday, May 30th. Orchid Island Capital’s dividend payout ratio is currently 360.00%.

Analyst Ratings Changes

ORC has been the subject of several analyst reports. StockNews.com raised Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a report on Thursday, January 23rd. Finally, Jones Trading reissued a “hold” rating on shares of Orchid Island Capital in a report on Wednesday, April 30th.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.